Mobile manufacturers to face penalties over lack of localisation

[ Under new policy, govt may also withdraw duty concessions, suspend import licences A high school student poses with his mobile phone showing his social media applications in Melbourne, Australia Photos: Reuters ISLAMABAD: The government has decided to impose penalties on mobile and electronics device manufacturing companies over failure to achieve specified localisation levels in … Read more

Pakistan’s global clout growing: Chinese envoy

ISLAMABAD: Chinese Ambassador Jiang Zaidong has said that Pakistan has become increasingly influential on the global stage, expanding its diplomatic ties and enhancing its international voice. In his New Year message released by the China’s Embassy in Islamabad on Monday, the ambassador also praised the government’s efforts in economic reform, counter-terrorism, and national unity. “China … Read more

Venezuela swears in Delcy Rodriguez as interim president after US seizes Maduro

Parliament backs Rodriguez as protests erupt and Maduro pleads not guilty to drug charges in New York court This handout picture released by the Miraflores Palace press office shows Venezuela’s Vice-President Delcy Rodriguez (L) taking an oath as Venezuela’s interim President in front of Venezuela’s National Assembly President Jorge Rodriguez (R) and Deputy Nicolas Maduro … Read more

US strikes in Venezuela spur safe-haven buying

[ Gold, silver surge on global turmoil; local yellow metal’s price jumps Rs9,200/tola At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY KARACHI: Gold prices in Pakistan experienced a significant rebound on Monday, influenced by strong gains in the international bullion market, driven by heightened geopolitical tensions following a dramatic event … Read more

Rate cut hopes propel PSX to highs

[ Shares of 345 companies were traded. At the end of the day, 75 stocks closed higher, 254 declined and 16 remained unchanged. PHOTO: FILE KARACHI: In a robust rally, the Pakistan Stock Exchange (PSX) on Monday skyrocketed to a new peak above 182,400, up 3,373 points, owing to expectations of further monetary easing and … Read more